919 Shares in Meta Platforms, Inc. $META Purchased by Livet Wealth LLC

Livet Wealth LLC purchased a new position in Meta Platforms, Inc. (NASDAQ:META) in the 4th quarter, HoldingsChannel reports. The firm purchased 919 shares of the social networking company’s stock, valued at approximately $607,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Empire Financial Management Company LLC grew its position in Meta Platforms by 5.5% in the fourth quarter. Empire Financial Management Company LLC now owns 1,070 shares of the social networking company’s stock worth $706,000 after acquiring an additional 56 shares in the last quarter. Douglass Winthrop Advisors LLC grew its position in Meta Platforms by 4.7% in the fourth quarter. Douglass Winthrop Advisors LLC now owns 9,285 shares of the social networking company’s stock worth $6,129,000 after acquiring an additional 415 shares in the last quarter. Alaethes Wealth LLC grew its position in Meta Platforms by 1.2% in the fourth quarter. Alaethes Wealth LLC now owns 7,618 shares of the social networking company’s stock worth $5,029,000 after acquiring an additional 87 shares in the last quarter. Laurel Oak Wealth Management LLC bought a new position in shares of Meta Platforms during the 4th quarter valued at approximately $7,001,000. Finally, Fiduciary Group LLC increased its position in shares of Meta Platforms by 1.2% during the 4th quarter. Fiduciary Group LLC now owns 15,857 shares of the social networking company’s stock valued at $10,467,000 after purchasing an additional 193 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of META stock opened at $566.98 on Friday. Meta Platforms, Inc. has a twelve month low of $520.26 and a twelve month high of $796.25. The stock has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 20.61, a P/E/G ratio of 1.01 and a beta of 1.23. The stock has a fifty day simple moving average of $621.15 and a two-hundred day simple moving average of $635.89. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.24.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, April 29th. The social networking company reported $10.44 earnings per share for the quarter, topping analysts’ consensus estimates of $6.67 by $3.77. The firm had revenue of $56.31 billion during the quarter, compared to analysts’ expectations of $55.56 billion. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.The firm’s quarterly revenue was up 33.1% on a year-over-year basis. During the same period in the prior year, the business posted $6.43 EPS. On average, analysts predict that Meta Platforms, Inc. will post 29.35 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Monday, June 15th will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, June 15th. Meta Platforms’s dividend payout ratio is 7.63%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wedbush raised Meta Platforms from an “outperform” rating to a “neutral” rating in a research report on Tuesday, June 2nd. Rosenblatt Securities reissued a “buy” rating and set a $1,015.00 target price on shares of Meta Platforms in a research report on Thursday, May 28th. Arete Research set a $735.00 target price on Meta Platforms and gave the company a “buy” rating in a research report on Tuesday, June 2nd. UBS Group downgraded Meta Platforms from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 2nd. Finally, Guggenheim cut their target price on Meta Platforms from $850.00 to $800.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Three research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $840.60.

Insider Activity

In related news, CTO Andrew Bosworth sold 7,847 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $607.83, for a total transaction of $4,769,642.01. Following the completion of the sale, the chief technology officer directly owned 414 shares in the company, valued at $251,641.62. This represents a 94.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Javier Olivan sold 837 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $629.29, for a total value of $526,715.73. Following the sale, the chief operating officer owned 12,986 shares of the company’s stock, valued at $8,171,959.94. This trade represents a 6.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 41,305 shares of company stock worth $25,567,928 over the last ninety days. 13.53% of the stock is currently owned by corporate insiders.

Key Meta Platforms News

Here are the key news stories impacting Meta Platforms this week:

• Positive Sentiment: Meta is expanding its AI infrastructure globally, including a new AI-enabled data center partnership in India with Reliance Industries, reinforcing confidence in its long-term artificial intelligence strategy.
• Positive Sentiment: The company launched Instagram Plus globally, an optional subscription product that could help diversify revenue beyond advertising.
• Positive Sentiment: Analysts and commentary from Morgan Stanley, Zacks, and others continued to describe Meta as a high-quality growth and compounder stock, with recent earnings still viewed as strong.

Meta Platforms Company Profile

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.